GEORGE TOWN, Cayman Islands, June 2 /PRNewswire-FirstCall/ -- United America Indemnity, Ltd. (NASDAQ:INDM) (UAI) today announced the appointment of Brian DeGraw as Vice President of Professional Liability of Diamond State Group, one of three divisions of its U.S. operations. The appointment is effective May 27, 2008. Mr. DeGraw will report directly to David J. Myers, President of Diamond State Group.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060706/MXTH001LOGO ) "With the addition of Brian DeGraw, Diamond State Group is well positioned to cultivate its Professional Liability Unit," said Mr. Myers. "Brian has the technical experience to enhance Diamond State Group's existing professional liability products, as well as to develop new ones. In addition, Brian's ability to forge meaningful relationships with external business partners and to successfully market products in a highly competitive market will be invaluable as we continue to seek ways to increase shareholder value." Mr. DeGraw joined UAI from United States Liability Insurance Group, where he was Second Vice President responsible for the Technology Professional Liability Practice Unit. Previously, Mr. DeGraw was the Vice President of Sales for ISG International/CCBsure Insurance Services, Vice President of Sales for InsureHiTech and Assistant Vice President of Sales for Commonwealth Risk Service. Mr. DeGraw began his career in 1994 with the Philadelphia Insurance Companies as Assistant Vice President of Production Underwriting - Professional Liability Insurance. He received his Bachelor of Science in Marketing from Cabrini College and earned the Registered Professional Liability Underwriter designation.
In addition, United America Indemnity, Ltd. announced the unveiling of Diamond State Group's new website, http://www.diamondstategroup.com/. The website was designed to present information about Diamond State Group and its products, to allow for online reporting of claims and to provide links to the other two divisions of UAI's U.S. Operations, Penn-America Group and United National Group, and to Wind River Reinsurance Company, Ltd. Mr. Myers said, "We are excited to introduce Diamond State Group's new website to our current and potential business partners, as well as UAI's shareholders. This website further establishes Diamond State Group's unique identity and business focus, while providing a cohesive vision of all of UAI's divisions and product offerings." About United America Indemnity, Ltd.
United America Indemnity, Ltd. (NASDAQ:INDM), through its several direct and indirect wholly owned subsidiary insurance and reinsurance companies, is a national and international provider of excess and surplus lines and specialty property and casualty insurance and reinsurance, both on an admitted and nonadmitted basis. The Company's four principal divisions include: -- Penn-America Group, which distributes its property and casualty
products to small commercial businesses through a select network of
general agents with specific binding authority. -- United National Group, which distributes its program and professional
lines products through program administrators with specific binding
authority. -- Diamond State Group, which distributes its property, casualty and
professional lines products through wholesale brokers. -- Wind River Reinsurance Company, Ltd., a Bermuda based treaty and
facultative reinsurer of excess and surplus lines and specialty
property and casualty insurance.
For more information, visit the United America Indemnity, Ltd. website at http://www.uai.ky/.
Forward-Looking Information This release contains forward-looking information about United America Indemnity, Ltd. and the operations of United America Indemnity, Ltd. that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives, expectations or consequences of the transactions, and statements about the future performance, operations, products and services of the companies.
The business and operations of United America Indemnity, Ltd. is and will be subject to a variety of risks, uncertainties and other factors. Consequently, actual results and experience may materially differ from those contained in any forward-looking statements. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: (1) the ineffectiveness of United America Indemnity, Ltd.'s business strategy due to changes in current or future market conditions; (2) the effects of competitors' pricing policies, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products; (3) greater frequency or severity of claims and loss activity than United America Indemnity, Ltd.'s underwriting, reserving or investment practices have anticipated; (4) decreased level of demand for United America Indemnity, Ltd.'s insurance products or increased competition due to an increase in capacity of property and casualty insurers; (5) risks inherent in establishing loss and loss adjustment expense reserves; (6) uncertainties relating to the financial ratings of United America Indemnity, Ltd.'s insurance subsidiaries; (7) uncertainties arising from the cyclical nature of United America Indemnity, Ltd.'s business; (8) changes in United America Indemnity, Ltd.'s relationships with, and the capacity of, its general agents; (9) the risk that United America Indemnity, Ltd.'s reinsurers may not be able to fulfill obligations; (10) investment performance and credit risk; and (11) uncertainties relating to governmental and regulatory policies. The foregoing review of important factors should be read in conjunction with the other cautionary statements that are included in United America Indemnity, Ltd.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as well as in the materials filed and to be filed with the U.S. Securities and Exchange Commission (SEC). United America Indemnity, Ltd. does not make any commitment to revise or update any forward-looking statements in order to reflect events or circumstances occurring or existing after the date any forward-looking statement is made.
Contacts:
Financial Media
Thomas McGeehan Christine Tassoni
Interim Chief Financial Officer (610) 660-6814
(610) 660-3676 http://www.newscom.com/cgi-bin/prnh/20060706/MXTH001LOGO DATASOURCE: United America Indemnity, Ltd.
CONTACT: Thomas McGeehan, Interim Chief Financial Officer, +1-610-660-3676, , or Christine Tassoni, +1-610-660-6814, , both of United America Indemnity Web site: http://www.uai.ky/ http://www.diamondstategroup.com/
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